Vietnamese and American businesses could save US$67 million thanks to administrative custom reforms, according to Bradley Bessire, Acting Vietnam Mission Director from the United States Agency for International Development (USAID) during a conference in HCM City on Wednesday.
Viet Nam’s export value to the US reached $4.89 billion in August, the highest level since January this year, according to the General Department of Customs.
Since its introduction in May, Viet Nam''s National Single Window (NSW)
has significantly reduced the time required for customs clearance,
helping import businesses save time and money on lengthy administrative
procedures.
Foreigners and overseas Vietnamese people exiting the country from Cam
Ranh airport in Khanh Hoa province will be eligible for value added tax
(VAT) refunds on purchases of Vietnamese products.
The Government is determined to make custom
procedures quick and transparent in line with the World Trade
Organisation Trade Facilitation Agreement (TFA) which Viet Nam signed in
2013.
The General Department of Customs is working on a draft circular to
replace Circulars No. 63 /2011/TT-BTC and No. 105/2011/TT-BTC on the
pilot application of the priority regime in the state management of
customs, lowering conditions for businesses to enjoy the customs
priorities.
Exports of Vietnamese wood products to the US in the first quarter of
this year have surged 8.4 per cent compared to the same period in 2012,
with figures hitting US$394 million.